Supreme Court Curtails SEC’s Ability To Use ALJs In Enforcement Actions

( June 27, 2024, 1:04 PM EDT) -- WASHINGTON, D.C. — A defendant accused by the Securities and Exchange Commission of securities fraud has the right to a jury trial under the Seventh Amendment to the U.S. Constitution when the commission is seeking civil penalties, the U.S. Supreme Court held June 27, agreeing with a hedge fund manager and his hedge fund that the SEC inappropriately sought penalties before an administrative law judge (ALJ)....

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